Silver is down to $19.16 per troy ounce, after ending yesterday at $19.59. Overall, a 2.19% loss or 42.9 cents today.
Initial Jobless Claims data from United States will be released today at 12:30 UTC with analysts expecting a decline to 220,000. Potentially significant price fluctuations in CME Silver are expected to follow.
Highly important Crude Oil Inventories data from United States beat analyst expectations of 367,000 with a reading of -3.12 million.
Meanwhile, United States Interest Rate released yesterday at 18:00 UTC with a figure of four, while the previous figure was 3.25. United States ADP Nonfarm Employment Change (Oct) came out at 239,000, while a consensus of analysts was expecting 195,000.
Taking a look at other Metals commodities, negative performances are evident as Platinum is trading around $927.2 (down $23.7). Gold is down $17.6 from the beginning of the session and now trades around $1,632.4. Copper draws back 1.25% to trade around $3.42.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Non Farm Payrolls expected to decline to 200,000 while its preceding data was 263,000, data will be available tomorrow at 12:30 UTC. Projections for United States Unemployment Rate are set for a continuation of decline with 3.6 while previous data was 3.5; data will be released tomorrow at 12:30 UTC.
Furthermore, United States ISM Non-Manufacturing PMI (Oct) is expected today at 14:00 UTC.
Silver hit a significant low of $17.67 around 2 months ago, but has since recovered 10.89%.